Protara Therapeutics
TARA on Nasdaq. Protara Therapeutics develops experimental cell therapies for people with cancer and rare diseases. Market value $155m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-44.04 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$2.56 a share, at its 1-year low
Over the past year the price has ranged from $2.53 to $7.82.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | n/a | n/a | n/a | n/a | n/a |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.01bn | 0.01bn | 0.02bn | 0.04bn | 0.06bn |
Health checks
- Free cash flow positive0 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsUnknown
- Buying back its own sharesNo, 424% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- A loss of $22 million, compared with a loss of $15 million a year ago.
- Over the past 12 months it spent $66 million more cash than it brought in, compared with $45 million a year earlier.
- 44% more shares than a year ago. Each share owns a bit less of the company.
| Quarter to | Amount |
|---|---|
| September 2024 | -$11m |
| December 2024 | -$13m |
| March 2025 | -$12m |
| June 2025 | -$15m |
| September 2025 | -$13m |
| December 2025 | -$17m |
| March 2026 | -$18m |
| June 2026 | -$22m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 10 March 2026
- Next quarterly (estimated, 10-Q)
- 10 November 2026
Who owns it
None of the long-term investors we follow own it. 120 funds in all.
Largest holders overall
- Jupiter Topco$18m
- BlackRock$14mAdded
- Millennium Management$12mAdded
- Velan Capital Investment Management LP$11m
- Vanguard Capital Management$9mAdded
- Blackstone$9m
- Orbimed Advisors$8mNew
- Sio Capital Management$7mCut
- Acorn Capital Advisors$7m
- Integral Health Asset Management$6mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
6 investors own more than 5%.
- Janus Henderson Biotech Innovation Master Fund LtdPassive investor9.3%+0.2 ptsSince 30 September 2025
- JANUS HENDERSON GROUP Ltd.Passive investor8.4%−1.2 ptsSince 30 June 2026
- BlackRock, Inc.Passive investor6.3%+1.6 ptsSince 31 March 2026
- Millennium Management LLCPassive investorat least 5.7%+0.6 pts(filed with 3 related holders)Since 1 July 2026
- RA Capital Management, L.P.Passive investorat least 4.9%−5.0 pts(filed with 3 related holders)Since 30 June 2025
- Kenneth GriffinPassive investorat least 4.7%(filed with 6 related holders)Since 31 December 2024
- Opaleye Management, Inc.Passive investorSold down below 5%Since 31 March 2025
- Woodline Partners LPPassive investorSold down below 5%Since 31 December 2024
- Adage Capital Management, L.P.Passive investorSold down below 5%Since 31 March 2025
| Holder | Stake | Since | |
|---|---|---|---|
Janus Henderson Biotech Innovation Master Fund Ltd Passive investor | 9.3%+0.2 pts | 30 September 2025 | |
JANUS HENDERSON GROUP Ltd. Passive investor | 8.4%−1.2 pts | 30 June 2026 | |
BlackRock, Inc. Passive investor | 6.3%+1.6 pts | 31 March 2026 | |
Millennium Management LLC Passive investor | at least 5.7%+0.6 pts (filed with 3 related holders) | 1 July 2026 | |
RA Capital Management, L.P. Passive investor | at least 4.9%−5.0 pts (filed with 3 related holders) | 30 June 2025 | |
Kenneth Griffin Passive investor | at least 4.7% (filed with 6 related holders) | 31 December 2024 | |
Opaleye Management, Inc. Passive investor | Sold down below 5% | 31 March 2025 | |
Woodline Partners LP Passive investor | Sold down below 5% | 31 December 2024 | |
Adage Capital Management, L.P. Passive investor | Sold down below 5% | 31 March 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 2 sold $1m.
- Shefferman JesseCEO and President, DirectorSold
- Date
- 29 June 2026
- Shares
- 215,687
- Price
- $4.09
- Value
- $882,160
- Zummo JacquelineChief R&D OfficerSold
- Date
- 8 April 2026
- Shares
- 1,134
- Price
- $5.40
- Value
- $6,124
- Zummo JacquelineChief R&D OfficerSold
- Date
- 1 April 2026
- Shares
- 22,598
- Price
- $5.26
- Value
- $118,865
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 29 June 2026 | Shefferman Jesse CEO and President, Director | Sold | 215,687 | $4.09 | $882,160 |
| 8 April 2026 | Zummo Jacqueline Chief R&D Officer | Sold | 1,134 | $5.40 | $6,124 |
| 1 April 2026 | Zummo Jacqueline Chief R&D Officer | Sold | 22,598 | $5.26 | $118,865 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.